Posts Tagged ‘Geely’

Geely buys Volvo from Ford, and a thought on RMB vs. USD

March 28th, 2010 No comments

Geely’s deal to acquire Volvo from Ford has been made official today. “Ford sells Volvo to China’s Geely auto group for $1.8 billion” and according to L.A. Times, Ford had originally paid $6.5 billion back in 1999. This acquisition helps Geely tap the domestic Chinese market better in the luxury segment where BMW, Lexus, and other foreign brands have dominated in the past. Geely will learn a great deal about the American and European auto markets through Volvo in terms of marketing, distribution, and global supply chain. Another take on this story by China Daily: “Geely’s Li to go global with Volvo deal.” Read more…

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